Hult Prize: leading a generation to change the world

It seems that the world has established an entrepreneurial shade, these few last years. Its uproaring dominance within most contemporary societies is undeniable.

However, we are not to try to seize the meaning of the  »entrepreneurship » notion today but shed light on the Hult Prize competition.

From a first sight, it seems that The Hult Prize competition somewhat embodies entrepreneurship definition except that it mainly occurs in universities and colleges. That might be exhibited in their magenta mantra  »for us by us. The global youth challenge »

Yet the same mantra, regardless of the entire competition, brings much more to itself than entrepreneurship.

One might say: what? Or how? Better even: what is Hult Prize?

It appears that Ahmad Ashkar; an enterprising MBA student at Hult International Business School had the idea to  »leverage the crowd to generate startup ideas from young people to sustainably solve the world’s most critical social challenges. »

He partnered with the Hults – a Swedish family of entrepreneurs behind the largest private education company in the world:  »Education First ».

And The Hult Prize foundation was founded.

Their aim was to ensure human basic needs to people, by funding the youth‘s ideas to prosper into business, that is why it is actually characterized as a social entrepreneurship competition.

Thislead to organizing an annual competition, for they believed in the power of one idea, and that businesses can change the world.

The game revolves around this; a campus director volunteers to lodge and coordinate the competition on his or her campus. Aided by an organizing committee, they establish the entire competition’s process, starting by registering teams, assisting them all around the different phases of the competition to providing them training and mentorship or unraveling any sort of hinders that can cripple their journey to the competition within campus doors itself.

Each winning team – selected by a certain jury form its campus – proceeds to a national competition that occurs within teams from same countries yet different universities. The ones selected on this ladder will be advanced to take part in a competition on a higher scale, that will take part in the United Kingdom first, then there would be another one that President Bill Clinton hosts – the global finals – at the United Nations.

The ultimate title-holder would benefit a one million dollar prize to put his concept into action.

Hult Prize then might be considered as a Nobel prize for students.

In a matter of fact, The Hult Prize is the world’s biggest engine for the launch of for good, for-profit startups emerging from university and its statistics sound out of this world. It deployed more than $50M of capital into the sector, joined more than 100.000 students around the world, as well as representing more than 150 countries.

The competition has become a wave, an entrepreneurial, cultural and social movement in which youth directly seek solutions to the world’s most pressing crises, thus enables them to do true change. It also brings forward a vast community to hear them out and help enact their perspective.

Knowing it was founded in 2009, the Hult Prize foundation has reached its 10th anniversary and this year’s theme is just as grand: Unemployment.

It is the most significant theme for such a competition, incredibly vast and unbelievably constraint. And the title-holder would manage to help provide ten thousand job offer for youth, practically for his acquaintances and friends. So what would start as an extracurricular activity can easily prosper into not just a business but a device to alleviate Tunisia and the world’s most critical issue.

Interestingly, many participants who did not make it to the semi-final managed to partner up with their local jury to concretize their concepts or learn how to solidify their projects and turn it into projects themselves. In addition to the title-holder and the 50 companies who indeed did surpass the nationals, will see their businesses grow in astonishing ways during their six weeks at the Hult’s Ashridge castle north of London. That is, either by the partnerships proffered or extensive mentorship sessions delivered.

This way, Ashkar’s vision of the power of one idea cannot be more covered.

It is a global youth movement; for us, by us. 

So venture in this exhilarating journey for it is tremendously enriching.

This year only, the wave has reached several Tunisian universities and faculties, including the Faculty of juridical, political and human sciences, so venture in this exhilarating journey for it is tremendously enriching. If it is organized on your campus, or through the wildcard round – a virtual round of participation – make sure to sign your name in, you won’t have any regrets, not even the slightest.